Eastern Europe sends the most crypto to the dark web and is also the largest sender of web traffic to scam sites, research shows.
Dark net markets set a new revenue in 2020 at $1.7bn worth of cryptocurrency, according to research by Chainalysis.
Crypto research firm Chainalysis said Eastern European took the largest share of this with the trade in digital cash to the dark web facilitated by Hydra Market, the world’s biggest darknet market and one which only serves Russian speakers in Eastern Europe.
According to the note, Eastern Europe sends the most web traffic to scam websites in the 12 months up to July 2021 “by a wide margin”.
“Drilling down to the country level, we see that Ukraine accounted for most of this activity, and sends more web traffic to scam websites than any other country, more than doubling the total web visits of the second-ranked country,” the note added.
One such scheme was…